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Verdande Technology
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Provider of Case-Based Reasoning software solutions to oil & gas, healthcare and financial industries

Founded in 2011
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Company type Out of Business Public ()
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Industry Group waste & recycling

Sector wastewater

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
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Headquarters Norway Trondheim, Norway
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Updated by Cleantech Group on 06/10/2021

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Date Company
08/06/2014

Hess Corporation Hess Corporation

Hess Corporation selects Verdande's DrillEdge technology to increase drilling efficiency.

Confirmed by Hess Corporation
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Date Partner Type
05/24/2011
S. Knutsvig Consulting S. Knutsvig Consulting
New channel partner to provide sales, technical support and training services.
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Confirmed by S. Knutsvig Consulting
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Date Investors Type Amount
10/23/2012 Investinor Investinor , Statoil Technology Invest Statoil Technology Invest , Proventure Proventure (3)
Post-money valuation of
The original transaction denomination was NOK45 million. Verdande intends to use the capital to bring its case-based reasoning (CBR) technology, which has so far been applied primarily in the energy industry, into new industry verticals.
 Growth Equity $8,000,000
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DrillEdge

Real-time drilling decision support to increase efficiency, avoid drilling failures, share knowledge, and interpret data through its cloud-based solution.

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